5 REASONS YOU SHOULD NOT USE FSBO

 

    

Thinking of Selling? 5 Reasons You Shouldn't FSBO

In today's market, with home prices rising and a lack of inventory, some homeowners may consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons why this might not be a good idea for the vast majority of sellers.

Here are the top five reasons:

1. There Are Too Many People to Negotiate With

Here is a list of some of the people with whom you must be prepared to negotiate if you decide to For Sale By Owner:

The buyer who wants the best deal possible
The buyers agent who solely represents the best interest of the buyer
The buyers attorney (in some parts of the country)
The home inspection companies, which work for the buyer and will almost always find some problems with the house
The appraiser if there is a question of value

 

2. Exposure to Prospective Purchasers

Recent studies have shown that 88% of buyers search online for a home. That is in comparison to only 21% looking at print newspaper ads. Most real estate agents have an internet strategy to promote the sale of your home. Do you?

 

3. Results Come from the Internet

Where did buyers find the home they actually purchased?

44% on the internet
33% from a Real Estate Agent
9% from a yard sign
1% from newspapers
The days of selling your house by just putting up a sign and putting it in the paper are long gone. Having a strong internet strategy is crucial.

 

4. FSBOing Has Become More And More Difficult

The paperwork involved in selling and buying a home has increased dramatically as industry disclosures and regulations have become mandatory. This is one of the reasons that the percentage of people FSBOing has dropped from 19% to 8% over the last 20+ years.

The 8% share represents the lowest recorded figure since NAR began collecting data in 1981.

 

5. You Net More Money When Using an Agent

Many homeowners believe that they will save the real estate commission by selling on their own. Realize that the main reason buyers look at FSBOs is because they also believe they can save the real estate agent's commission. The seller and buyer cant both save the commission.

Studies have shown that the typical house sold by the homeowner sells for $210,000, while the typical house sold by an agent sells for $249,000. This doesn't mean that an agent can get $39,000 more for your home as studies have shown that people are more likely to FSBO in markets with lower price points. However, it does show that selling on your own might not make sense.

 

Bottom Line

Before you decide to take on the challenges of selling your house on your own, let's get together and discuss your needs. Call me today at 907.244.1970

STAGING YOUR HOME

     Any real estate agent will tell you that one of the best ways to sell your home fast is to have an exciting open house.

Prospective buyers will be more likely to make an offer on your home at an open house event if you properly stage your property. This will take some hard work on your part, but you will see positive results. When you begin to stage your home for the real estate market, there are some steps that you should take to make your event successful.


Clean the House

A clean home is a home that sells on the real estate market. Cleaning carpets, waxing floors, dusting, and scrubbing are all essential to making your home appealing to house hunters. No detail is too small when it comes to cleaning your house. That is why it important not to forget about things like cleaning out the fridge and organizing cabinets. If you don't have one already, make a space in your home that has cleaning products neatly organized. This will demonstrate that you have taken steps to keep your home clean and well maintained during the length of your ownership of the property.


Make Necessary Repairs

Buyers taking a serious interest in your home will want to thoroughly inspect your house both inside and out. One of the most important steps for staging your home for an open house is to make any and all needed repairs to the home. Leaking faucets, holes in the walls, and broken light fixtures are just a few repairs to consider. Walk through your home as though you are the prospective buyer, and take note of any damages that would make you think twice about making a new home purchase. You may also want to have your real estate agent walk through the home with you to help catch anything that you might have missed.


Clean Out Storage Areas

It is tempting to fill the garage, attic, and closets with items that you don't want laying around during the open house. This is a big mistake, as visitors to your home will want to inspect these areas to determine how much storage space your home can offer. Organizing these spaces will allow you to emphasize the available space in your home, making it more attractive to buyers.


Simplify Your Home Dcor

New home-buyers want to envision themselves living in your home, which can be difficult if your home is filled with personal mementos or unusual interior design choices. Photos on the refrigerator, vacation souvenirs on shelves, and any other highly personal knickknacks should be packed neatly away in your storage areas. If your walls are not painted in neutral tones, you should consider painting before your open house. The key to simplifying your home dcor is to create a space that allows anyone to picture living in your home.


Allow for Light and Fresh Air

Well-lit rooms often appear larger than they actually are, so be sure to open curtains and blinds wherever possible. You should also replace any light bulbs that are burnt out and add light fixtures to any dark spaces in your home. A few hours before your open house, you should open a few windows to allow fresh air to circulate throughout the home. Although you do want your home to smell pleasant, you should avoid overpowering air fresheners. Heavy scents may give the impression that you are trying to hide something.


Don't Neglect the Outside of the Home

Your front yard is the first thing that people are going to see as they approach your home, so it is your first chance to make an impression on potential buyers. Clean up any clutter in the front yard such as bicycles or lawnmowers. Make sure that your grass is trimmed and that the outside of your home is clean. If you can afford it, consider hiring a landscaper to give the exterior of your home a more finished look.

The open house is your first date with potential buyers, so make sure to make your home stand out as a neat, clean, and welcoming place to live. Following these steps will help guarantee that your house sells quickly for a fair price.

 

11 THINGS YOU SHOULD KNOW ABOUT REAL ESTATE

A home is worth what a buyer is willing to pay.        

You may think all the time and effort you have put into your home before listing it, even what you paid for it previously, makes it worth a certain price. Even an appraiser may come in before you list and say it's worth close to a price you like. But at the end of the day, it is only worth what a buyer is willing to pay for it. They may think your upgrades don't match up with the asking price. It may be that the home does need renovations and the asking price is too much to justify buying it and immediately pouring more money into it. A buyer would rather purchase a home at $125k, put $25k into it, and have it be worth $180k instead of buying a home at $180k that needs the same work of the $125k home.

 

Upgrades may not increase the value, but they'll increase the chances of getting it sold.

It's normal to think or hope that you'll get back every penny spent on a home renovation. Unfortunately, in most cases you really only receive back a percentage of what you spent (or sometimes no hike in value at all). Different home improvements generally offer different returns, and that amount can vary depending on the area that you live in. Other factors include quality of craftsmanship and the personal taste of buyers.

 

Cleanliness is godliness.

No house is ever going to be perfect, especially with a dog in the summer, but it is important to make an effort to keep your home as clean as possible during listing photos and showings. You want potential buyers to remember what they love about the home after they leave, not talking about how much of a mess your home was instead.

 

Curb appeal is the first (and strongest) impression.

We all know what they say about first impressions. It's hard for someone to change their mind after a bad first impression. Take a look at the front of your home. As a stranger, would you buy it? Just in case youre biased, look next door. What about your neighbors home? Would you buy theirs? If no, imagine if they made it more presentable. Then would you buy it? Yes? Remove the kids toys from the front yard. Hide the trash cans and recycling bin. Mow the lawn and trim the bushes, especially before your professional pictures are taken! Continue to maintain the lawn for showings, and for the chance that someone might just drive by and notice the for sale sign in your yard. If you have shutters, make sure theyre all still attached and if needed, slap a fresh coat of paint on them. And dont forget to pressure wash!

 

Pet odor and clutter leave the longest lasting impressions.

Just because we love our furry friends, doesn't mean that everyone does. It's hard to erase every piece of evidence that they exist in your home. No matter how many times you vacuum, there will be pet hair that you miss. Just make an effort. And if you can, hide their bedding and food bowls. Pet odor is extremely hard to hide, especially if you have a puppy learning how to be potty trained or a senile dog with a bladder problem. It might be worth your while to replace your flooring, or offer a flooring allowance in the deal. For now, stick a few air wicks in each room.

 

Neutral paint and decor will always appeal to the masses.

Get rid of those dark colors and bright purple accent walls now that will stick out like a sore thumb in your listing photos before a potential buyer even schedules a showing of your home. The first thought going through their mind is, How many coats of paint is it going to take to cover up that hideous color?! Neutral is in. Neutral is always in. As for decor, minimal is best. Go ahead and pack any extra decor that is unnecessary while youre trying to sell.

 

Cheap fixes or updates will result in cheap (low) offers.

If you can't afford to update the whole house, don't. Trying to cover everything will result in cheap updates that the potential buyer will most likely want to have redone. If nothing else, as stated above, at least paint. A fresh coat of paint in the whole house, as long it's a natural color, is never wasted money.

 

Everything is negotiable.

Seriously. Everything is negotiable. While the refrigerator seems to be the biggest thing that buyers want or sellers note that it can convey with an acceptable offer, many other items have been negotiated. Blinds, curtain rods, curtains, furniture, even tractors. However, it is very important to make sure negotiations are done right and documented correctly in the contract.

 

Location! Location! Location!

Why does location matter so much? For starters, you can't move a home at least not easily or inexpensively. When you buy a home in a good location, it's usually a solid long-term investment. It's often wise to buy the worst house a property that could use some TLC on the best block. Why? Because fixing up a home in a great neighborhood will give you the best return on your investment. Quite simply, it will be easier to sell later on. Conversely, you can buy a beautiful home that doesn't need any workbut if the block is sketchy or just plain bad, you could have a hard time selling the property at a decent price.

 

Buyers notice things they want to change before noticing any updates.

Even though you just spent $30,000 on an upgraded kitchen and $10,000 on a remodeled master bathroom, a buyer may be groaning because they're not looking forward to having the carpets ripped up and hardwoods laid. Or, they just might not like the choices you made during the renovation process. One fail-safe move you can make is to allow a flooring allowance or paint allowance, therefore you're not wasting the money while getting the home ready to sell and they can pick out the details they like.

 

When priced right, it will sell.

Even if you're in a hurry to sell and price isn't your main concern, you still need a baseline to start marketing your home. One things for certain: Pricing is one of the biggest decisions in the selling process. Set too high a price and you run the risk of turning off potential buyers. It also means your house will not compare favorably with other similarly priced homes. Even worse, buyers may not even see your listing when they search online since they will be using lower price points.

 

ADDING CURB APPEAL TO YOUR HOME

                                                                   

When you're getting your home ready to sell, one of the first things you should focus on is curb appeal. If your home doesn't look appealing from the outside, many buyers will simply keep driving. The exterior of your home has to make a great first impression if you want buyers to stop and view the interior of your home. Here are some easy and inexpensive ways to boost your homes curb appeal.

Clean the front door and paint if needed. The front door is a focal point and it creates a strong first impression. Make it look stunning by cleaning, painting, and polishing hardware. A red front door will make your home feel cheerful as buyers enter.

Wash all windows inside and out. You may not think about your windows on a daily basis but giving them a good cleaning will add to your homes appeal.

Clean around eaves. Make sure to clear away the cobwebs.

Replace dated outdoor lighting fixtures. This is a simple update that buyers will appreciate.

Paint or replace mailbox, if needed. The mailbox may seem insignificant, but all of the little things add up to create your buyers overall impression of your home.

Wash the outside of the house. Use a garden sprayer and hose down the house and all walkways and paved areas.

Freshen up the house numbers. Polish, repaint, or replace the house numbers. This is another easy, inexpensive update if you decide to replace them; new brass numbers can add some real pizazz to your entry area.

Add hanging baskets. Colorful hanging baskets of flowers will add charm to the front of your home, especially if you have a nice front porch to draw attention to.

Spruce up garden beds by adding fresh bark chips and colorful bedding plants.

Coil hoses neatly and remove any gardening implements that may be in view.

Trim hedges and trees away from windows to add light to the interior space and give a manicured look to the exterior of the home.

Make sure to keep up on mowing, weeding, and raking.

Remove any dead or sick-looking potted plants, along with empty pots or other clutter that may be on your front steps or porch.

Pick up after pets and kids.

Get a cheerful new doormat. Doormats get worn out very quickly; getting a new one can add color and make a nice impression on buyers.

Follow these steps and your home will definitely not be a drive-by!

11 THINGS YOU SHOULD KNOW ABOUT REAL ESTATE

 

A home is worth what a buyer is willing to pay.

You may think all the time and effort you have put into your home before listing it, even what you paid for it previously, makes it worth a certain price. Even an appraiser may come in before you list and say it's worth close to a price you like. But at the end of the day, it is only worth what a buyer is willing to pay for it. They may think your upgrades don't match up with the asking price. It may be that the home does need renovations and the asking price is too much to justify buying it and immediately pouring more money into it. A buyer would rather purchase a home at $125k, put $25k into it, and have it be worth $180k instead of buying a home at $180k that needs the same work of the $125k home.

 

Upgrades may not increase the value, but they'll increase the chances of getting it sold.

It's normal to think or hope that you'll get back every penny spent on a home renovation. Unfortunately, in most cases you really only receive back a percentage of what you spent (or sometimes no hike in value at all). Different home improvements generally offer different returns, and that amount can vary depending on the area that you live in. Other factors include quality of craftsmanship and the personal taste of buyers.

 

Cleanliness is godliness.

No house is ever going to be perfect, especially with a dog in the summer, but it is important to make an effort to keep your home as clean as possible during listing photos and showings. You want potential buyers to remember what they love about the home after they leave, not talking about how much of a mess your home was instead.

 

Curb appeal is the first (and strongest) impression.

We all know what they say about first impressions. It's hard for someone to change their mind after a bad first impression. Take a look at the front of your home. As a stranger, would you buy it? Just in case youre biased, look next door. What about your neighbors home? Would you buy theirs? If no, imagine if they made it more presentable. Then would you buy it? Yes? Remove the kids toys from the front yard. Hide the trash cans and recycling bin. Mow the lawn and trim the bushes, especially before your professional pictures are taken! Continue to maintain the lawn for showings, and for the chance that someone might just drive by and notice the for sale sign in your yard. If you have shutters, make sure theyre all still attached and if needed, slap a fresh coat of paint on them. And dont forget to pressure wash!

 

Pet odor and clutter leave the longest lasting impressions.

Just because we love our furry friends, doesn't mean that everyone does. It's hard to erase every piece of evidence that they exist in your home. No matter how many times you vacuum, there will be pet hair that you miss. Just make an effort. And if you can, hide their bedding and food bowls. Pet odor is extremely hard to hide, especially if you have a puppy learning how to be potty trained or a senile dog with a bladder problem. It might be worth your while to replace your flooring, or offer a flooring allowance in the deal. For now, stick a few air wicks in each room.

 

Neutral paint and decor will always appeal to the masses.

Get rid of those dark colors and bright purple accent walls now that will stick out like a sore thumb in your listing photos before a potential buyer even schedules a showing of your home. The first thought going through their mind is, How many coats of paint is it going to take to cover up that hideous color?! Neutral is in. Neutral is always in. As for decor, minimal is best. Go ahead and pack any extra decor that is unnecessary while youre trying to sell.

 

Cheap fixes or updates will result in cheap (low) offers.

If you can't afford to update the whole house, don't. Trying to cover everything will result in cheap updates that the potential buyer will most likely want to have redone. If nothing else, as stated above, at least paint. A fresh coat of paint in the whole house, as long it's a natural color, is never wasted money.

 

Everything is negotiable.

Seriously. Everything is negotiable. While the refrigerator seems to be the biggest thing that buyers want or sellers note that it can convey with an acceptable offer, many other items have been negotiated. Blinds, curtain rods, curtains, furniture, even tractors. However, it is very important to make sure negotiations are done right and documented correctly in the contract.

 

Location! Location! Location!

Why does location matter so much? For starters, you can't move a home at least not easily or inexpensively. When you buy a home in a good location, it's usually a solid long-term investment. It's often wise to buy the worst house a property that could use some TLC on the best block. Why? Because fixing up a home in a great neighborhood will give you the best return on your investment. Quite simply, it will be easier to sell later on. Conversely, you can buy a beautiful home that doesn't need any workbut if the block is sketchy or just plain bad, you could have a hard time selling the property at a decent price.

 

Buyers notice things they want to change before noticing any updates.

Even though you just spent $30,000 on an upgraded kitchen and $10,000 on a remodeled master bathroom, a buyer may be groaning because they're not looking forward to having the carpets ripped up and hardwoods laid. Or, they just might not like the choices you made during the renovation process. One fail-safe move you can make is to allow a flooring allowance or paint allowance, therefore you're not wasting the money while getting the home ready to sell and they can pick out the details they like.

 

When priced right, it will sell.

Even if you're in a hurry to sell and price isn't your main concern, you still need a baseline to start marketing your home. One things for certain: Pricing is one of the biggest decisions in the selling process. Set too high a price and you run the risk of turning off potential buyers. It also means your house will not compare favorably with other similarly priced homes. Even worse, buyers may not even see your listing when they search online since they will be using lower price points.

 

REAL ESTATE BUYER PET PEEVES

   When you decide to sell your home you may want to consider some helpful tips to avoid losing out on a potential sale. Believe it or not, time and time again, buyers pass up a great home because of simple irritations. Here is a list of real estate buyer pet peeves to avoid.

Unreadable Information- When a real estate seller puts a for sale sign up in the front yard, it is quite annoying when the phone number is too small for car passengers to read. To correct this problem, put the sign closer to the road than the house.

Empty Pamphlet Tray- Some for sale signs have slots made to hold pamphlets. Usually the sign says, "Please take one". Generally the pamphlets have specifics about the property: square footage, amenities, lot size, and price. One of the biggest pet peeves of potential buyers is when they stop to pick up a pamphlet and the slot is empty. If your for sale sign says, "Please take one", make sure there is actually something to take.

Finicky Lock- When buyers set up an appointment to walk through a property, first impressions mean everything. If the lock and key don't work properly, it gives potential buyers the feeling that other things may be finicky about the house.

No Picture Available- When pictures are unavailable for a piece of property on the Internet, MLS, it gives the impression that there is something to hide. "Why wouldn't they have a picture? The siding must be bad. The yard must be torn apart." Giving potential buyers a picture of the property gives them realistic expectations.

Unavailable Price- The first thing that goes through any buyer's mind when the price is not disclosed is, "Overpriced". The only reason to not openly list real estate price is if it is priced way too high. Some buyers will even pass by an otherwise lovely piece of property because the price isn't listed. They automatically think it is out of their price range. Let buyers know the price up front. That way there are no surprises.

Cluttered Picture- A photograph is the one time when the seller can control every aspect seen by a potential buyer. Photos taken with cluttered desks or laundry piles are unappealing to the eye. De-cluttering the desired area is absolutely imperative when taking a real estate picture.

Making a positive first impression that turns into a lasting impression is the goal of all real estate brokers. Don't ruin that first impression by creating little annoyances along the way. It could cost potential viewings, sales, and even thousands of dollars. Being remembered as the cute little ranch on the edge of town always trumps the large two story with no pamphlets and the finicky lock.

EASY CHANGES TO GET YOUR HOUSE SOLD

1. Clean house and de-clutter. Rent a dumpster and a storage unit to clear your home of anything and everything not necessary.

2. Remove "personal items" like photos and mementoes that make the home yours. Buyers need to envision the home as theirs to emotionally commit to wanting to live there.

3. Have your home professionally staged and keep it looking that way until you have accepted a firm offer.

4. How does the front yard look? Weeds and dead grass won't bring people out of their cars to see the inside. Homes with well manicured yards sell faster, better and for more.

5. Leave window coverings open to allow natural light in.

6. Leave the lights on. Well lit rooms are more inviting and warm than dark rooms.

7. Update on-line listing photos with as many high quality photos as you can. Compare your photos with other homes for sale, 90% of all new home searches begin on-line.

8. Revisit your asking price.

9. Tour other homes in the area to see the competition in your market.

 

5 WAYS SELLERS SABOTAGE THEIR OWN SALE

                    

Selling your home? Every seller wants the same thing: to sell their house for the most money possible, as quickly as possible. This is exactly what your real estate agent wants too. That said, there are usually two things keeping this from happening: price and condition.

Price and condition are always the deciding factors for buyers, and they also affect the amount they may offer. Luckily for you, these are also the only two things you have control over!

So lets take a look at the top five mistakes you may be making if your home hasnt sold yet.

Mistake #1: Thinking your house is special.

As a homeowner, you are proud of your home. You might even think it's superior to all others in your neighborhood. This might be because of the time and money you spent remodeling it. Perhaps you hand-picked every slat of Brazilian Hardwood and personally laid it, or chose a ridiculously expensive gold leaf wallpaper that you just had to have. You may assume if you spend a lot of money on bells and whistles, that MUST make it worth more, right? Wrong.

Buyers are looking at your home, trying to envision it as their home. Theyre easily distracted by your loud, hot pink bedroom walls and won't consider that it was a custom color made to match the loud pink zebra comforter and matching curtains. They're also mentally calculating how much money they need to spend to refinish those hardwood floors, repaint and have that wallpaper removed.

You must understand your house isn't special to anyone but you, so it's always best to cater to buyers by showing them your homes cleanest, most neutral face. You need to clean your home until it shines, ditch the clutter, paint, make needed repairs, and keep up with your landscaping.

You need to trust your real estate agent (not Zillow) on where to price your home. And remember one important thing: Just because you spent $50,000 on a kitchen remodel doesn't mean you're getting every penny back (despite what your shoebox full of receipts might be telling you).

 

Mistake #2: Thinking you're a salesperson.

As a seller you may think you're being helpful by sticking around during showings to help agents and potential buyers see how special your home is. You might think the buyer's agent can't possibly know how to showcase your home as well as you can, or have any clue what the really important things are to point out. So you stick around, you smile super big and you're super nice to everyone. You point out the hardwood floors, custom wallpaper and things that you love about the house, because you are a better salesperson than some real estate agent who has never lived there, right? Wrong!

Actually, you're not coming off as super nice, but annoying (at best). While gushing over all the things you love, those may be the very things the buyer hates.The best thing to do is leave the house and give the buyers some space. Buyers want privacy. They don't want to be cornered into awkward small talk with the homeowner or feel rushed when making the most expensive purchase of their life.

 

Mistake #3: Thinking they will come back.

Imagine you had a long day at work. It's a hot, muggy day. Your car's air-conditioning is acting up, making you stick to your seats on your longer-than-usual commute home. Your kids are bickering and everyone is starving. Then your phone rings. It's your real estate agent calling with a last-minute showing request in ten minutes. This is NOT what you need right now, but you want to sell your house.

You have two choices. Option A: plead for the showing to be rescheduled, because you mistakenly assume the buyers and their agent will gladly rearrange their schedule around yours and come back. Or, Option B, remind yourself that you want your home sold, and these buyers may only have the next hour or so to see as many homes as possible before making a decision because they're relocating from out of state (or whatever their unique situation may be).

Never, ever, go with Option A.

No matter how you feel or what kind of day you're having, you need to be accommodating. Sometimes you just have to bend over backwards. Buyers hold all the power because they're the ones with the money and ability to make your dream of selling come true. So as you load up your hungry, fussy kids, you smile and wave as you back out of the driveway and head to the nearest drive-through. Youve made the right decision! You realize you must suck it up and make your house available even when you really dont want to, because buyers will rarely come back at a better time.

 

Mistake #4: Not being willing to negotiate.

So you got an offer on your home, and you accepted it! Congrats! Regardless of how long your home had been on the market or what the final terms are, this is exciting because it means all the showings are over and you're roughly 30 days away from closing. After the home inspection, the buyers ask for some repairs to be made, or possibly for you to purchase a home warranty for them or assistance with closing costs. Most buyers will ask for those things; it's nothing to get bent out of shape over.

This is where you, the seller, need to be willing to meet in the middle and show the buyer that you're serious about selling. Otherwise you risk your deal falling apart and being stuck with the house, which you'll eventually shell out more money to fix anyway. Sure, you can always re-list your home, but it may sit on the market for 30, 60, 90 days or more. Meanwhile youl'l have to deal with more showings, keeping the house spic & span, and losing sleep due to the anxiety of the unknown.

Please remember that this pending sale on your home has contingencies, and it could fall apart for a number of reasons. The appraisal is one contingency; the home inspection is another. Both of them may require you to be flexible and willing to negotiate. If you aren't and the deal falls apart, then you have no one to blame but yourself. Also, your first offer is usually your best offer, and oftentimes your only offer. Once you secure an interested buyer, you need to trust your agent and work with them and your buyers to get the home sold and not waste time on bickering over a $100 light fixture or $400 home warranty.

 

Mistake #5: Pets.

Last but not least, not everyone is a pet lover. Many people are allergic to cats or dogs, or have sensitive noses that can smell urine and stinky litter boxes on the other side of the house. When you're selling your house and you have pets, you really need to make the home look and smell as if no pets ever stepped foot in it. Your cat's favorite spot on the couch that's coated with 4 inches of matted fur needs to get scraped off (with a lint roller a few hundred times if need be). The food bowls, cat trees, pet toys, pet beds, scratching posts, cat condos, etc. need to be out of sight too. So do the fur babies themselves. Before you leave, make sure your backyard is free of landmines. You may as well put Whiskers litter box in a garbage bag and store it in the garage or closet or someplace out of sight and smell. When a buyer leaves, they'll remember their first impression, so you want it to be a good one. Pet odor can be a deal breaker, even if everything else about your home is perfect.

 

To summarize

Your home isn't particularly special to anyone but you, so keep it clean and showing beautifully and as neutral as possible at all times. Don't try to be the real estate agent (i.e., be sure to leave the house during showings), and take the pets with you! Dont assume that buyers will bend over backwards to see your house -- you need to do the bending, and you need to be flexible with negotiations too.

6 WAYS BUYERS SABOTAGE THEIR DREAM OF HOME OWNERSHIP

                             

Youve gotten pre-approved for a mortgage and are working with a real estate agent; you are officially a home buyer! This is a fun and exciting time in your life, and it can become very stressful if you let it. Buyers sabotage their dream of becoming a homeowner all the time, so here's a list of what NOT to do if you want to live happily ever after.

Mistake # 1: STAY pre-approved

So many buyers get pre-approved for their mortgage and assume that it's good forever. Not all lenders and real estate agents will take the time to explain the complexities that involve getting pre-approved, and therefore do not educate their client about how to STAY pre-approved. Your job, income, debt-to-income ratio, and credit score are all verified in order to determine if you can get a mortgage, and for how much you can borrow. This will be verified numerous times throughout the process, and up to the day you close on a home, so it cannot change! This means:

  • NO new lines of credit can be opened.
  • NO more credit card usage.
  • NO late payments.

And please, do NOT go buy a new car or new furniture & appliances for the house you haven't even bought yet. Wait until you close, and then you can put yourself into as much debt as you want.

 

Mistake # 2: Dilly-Dallying & Delaying

You look online every day at homes, and your agent emails you with new listings that match your exact search criteria. When a home first hits the market, it's like a shark tank and tons of agents and their buyers are circling it like it's dinner. If you want to see a house, then you need to jump on it. I know you're busy with work, or your kids baseball practice, or you need to go grocery shopping, or you don't have a babysitter. The amount of obstacles are endless, but if you really want something, then you make the time to do it! Use an hour or two of vacation time and leave work early, or delay the errands, and bring the kids if you can't get a sitter. This could be THE ONE, and you can't see it on Monday and expect it to still be for sale by the weekend, when you have more time.

 

Mistake # 3: Writing a low offer

In most areas, it's a sellers market. That means that the seller has the upper hand because inventory is low and they have little competition. This means that YOU, the buyer, have a ton of competition and potentially dozens of other buyers wanting the same house. This is not the time to write a lowball offer, just to see if you get it. Your real estate agent will run comps to make sure the home is priced appropriately, and they will negotiate for you on everything from the price, to repairs needed, to the date of closing. You need to trust your agent, and if you really WANT THIS HOUSE, then don't mess around and lose it to someone else who wanted it more. Homes are worth what a buyer is willing to pay, so that sometimes could be less than asking price, or more than asking price.

 

Mistake # 4: Asking for too much from the seller

Even if you write a full-price offer and on paper you look like the perfect buyer, you have to assume there is someone else even more perfect competing for the same house. You may need some help with closing costs, or you may not want to close for 60 days because you have to sell your current home first, or you may want the appliances or items that aren't included in the sale. Be careful about how much you ask for, because a seller will weigh all the pros and cons, especially in a multiple offer situation, and not necessarily accept the one that was for the most money. Another buyer may offer $5,000 less, but be able to close in 30 days, not need help with closing costs, and not want anything extra. In the end, it still nets the sellers more money, and less time waiting. Your real estate agent will help guide you on making the best offer, so trust their experience and advice! If you need help with closing costs, it may be wise to not shop at your maximum approved amount, and you may want to start eating Ramen Noodles and PB & Js for a while to save money so you dont have to ask for so much.

 

Mistake # 5: Nit-picking the home inspection report

Every home has issues. Not one home on this planet will produce a perfect score on an inspector's report. A home inspector will give you a thick report that makes it look like this house is about to blow up with all the code violations and recommended repairs. This does not give you the right to go back to the seller and demand it all be fixed, or try to get them to lower the price. Depending on the severity of the needed repairs, sellers and buyers can work together to get those fixed or replaced if both agree, but a drippy faucet or few missing GFCI plugs doesnt constitute you wanting $5,000 off the price of the home. The inspections are done for your protection, and so you know what you are getting into.

 

Mistake # 6: Having Premature Buyers Remorse

Once your offer has been accepted, the appraisal is done, the inspection is done, and everything is hunky-dory STOP home-shopping! You are weeks away from closing and becoming a homeowner, and you see more new listings pop up that you think are better than the one youre about to buy. You've invested money into this sale already, and you have a legally binding contract, so stop daydreaming about the what-ifs that other homes may offer, and focus on the home that is about to be yours. There's no better deal out there if you got the house you wanted, and it's passed all the contingencies. You're on the home stretch now, so stay patient and if you must shop online, then look for all the new furniture, paint colors, and updates you plan to do. Hoard the ideas on Pinterest or put things on layaway, and DON'T buy anything until you close. This has been a wild ride, and you really dont want to start all over again!

7 STEPS TO SELLING YOUR HOME

Step 1: Reason for Selling

It is often more emotional to sell a home than to buy a home, and the reason for selling your home may be a determining factor in the urgency of the sale. The urgency may also have an effect on the price of the property.

It is important to take the following factors that can influence the sale of your home into consideration:

Reason for selling

Price

Location

Condition of property

Accessibility

Local market conditions

 

Step 2: The Cost of Selling

It is very important to first calculate the expenses that may be incurred while selling your home. This knowledge is absolutely necessary because it helps you to determine a good price for the house, as well as your potential profit.

The cost of selling your home may include things like commission to be paid to the licensees, taxes, advertising costs or specific reports, such as a COSA, appraisal or as-built.

 

Step 3: DeterminingPrice

The most important factor when putting your home on the market to sell is setting the right price. The price at which your property is marketed can make or break the deal.

 

Over-pricing of the property may result in:

A smaller buyers' pool

A prolonged stay on the market that will result in lower offers being submitted

 

Under-pricing of the property may result in:

You losing money on your investment

A buyer offering an even lower amount due to a negative perception of the property or area

 

Step 4: Location, Location, Location

Although you cannot do anything about the location of your property, it plays a very important part in the marketability of your home. So, it is important to take the following into consideration:

Is your property priced in relation to other offers in your area?

 

Step 5: Condition of Your Property

The condition of your property is always a factor in how quickly your home sells. It's a fact: acquiring the highest market value and elevating your home above the others in the same price range often comes down to first impressions. Here are some inexpensive ways to maximize your home's curb appeal:

Keep the grass cut and yard clutter to a minimum.

Apply fresh paint to any wooden fences and your front door.

Clean windows inside and out.

Wash or paint your home's exterior.

Ensure gutters and other exterior fashions are firmly attached.

 

Step 6: Staging Your Home

Did you know well-placed furniture can open up rooms and make them seem larger than they are? Or, that opening drapes and blinds and turning on lights make a room seem bright and cheery? It's true, and here are some inexpensive ways to highlight your home's best features:

Clean or paint walls and ceilings.

Clean all flooring and fixtures - lights, fans.

Repair all plumbing leaks.

Simplifyyourhome decor. Remove excessive wall hangings, furniture and extra personal goods.

Allow for light and fresh air. Turn on all lights and open the drapes during the daytime.

Play quiet background music and infuse your home with a comforting scent.

Vacate the property when and if it's being shown to prospective buyers.

 

Step 7: Accessibility

Having your home show ready and accessible for showings will be key in selling your property quickly!